New York, New York, April 18, 2005– Continuing its rapid expansion, Street Records Corporation has named Gaby Acevedo to President of its SRC Records division, it was announced today by Street Records Corporation founder and urban music pioneer Steven Rifkind.

In this new capacity, Acevedo will oversee the creative direction of the label, as well as managing its A&R, promotion, sales and marketing activities on a worldwide basis. He will work closely with partner Universal Motown Records Group and will report to Rifkind directly.

Operating as a street-oriented, full service label, SRC Records has quickly established itself as the new voice in emerging music. The company’s first set of releases dominated the charts: rapper David Banner’s Mississippi: The Album, which debuted at #9, spawned such top 5 radio singles as “Like A Pimp” and “Mississippi;” and Terror Squad’s “True Story,” which debuted at #7 on the national sales charts, yielded the #1 Billboard Hot 100 Single “Lean Back” and garnered the group a recent Grammy Award nomination for “Best Rap Performance By Duo or Group.”

“SRC prides itself on being at the cutting edge of what is new and relevant,” stated Rifkind. “And that’s why we are thrilled to have Gaby on the front lines leading the charge for us. Since we first began working together over a decade ago at Loud Records, Gaby has distinguished himself with not only a deep love and respect for the music bubbling up from the street, but with the unique skill set to maximize all of the many opportunities emerging from the discovery of new music.”

“I’m thankful to Steve for this opportunity and am excited to be starting the next phase of my career with SRC,” added Acevedo. “We have an exciting release schedule planned for ’05, with new albums from David Banner, Akon, Remy Martin, LA Magic, Patricia and Topic, to name just a few.”

Prior to joining SRC, Acevedo played a key role at Loud Records in the development and success of such seminal urban music artists as Wu-Tang Clan, Big Pun, Fat Joe, Mobb Deep and Xhibit, among many others.

SRC Records is a joint venture between Rifkind and Universal Motown Records, a division Universal Music Group, the world’s leading music company with wholly owned record operations or licensees in 77 countries.

Universal Music Group consists of record labels Decca Record Company, Deutsche Grammophon, DreamWorks Records, Interscope Geffen A&M Records, Island Def Jam Music Group, Lost Highway Records, MCA Nashville, Mercury Nashville, Mercury Records, Philips, Polydor, Universal Music Latino, Universal Motown Records Group, and Verve Music Group as well as a multitude of record labels owned or distributed by its record company subsidiaries around the world. The Universal Music Group owns the most extensive catalog of music in the industry, which is marketed through two distinct divisions, Universal Music Enterprises (in the U.S.) and Universal Strategic Marketing (outside the U.S.). Universal Music Group also includes eLabs, a new media and technologies division.

Universal Music Group is a unit of Vivendi Universal, a global media and communications company.